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"Negotiations are still going on (with the US). There may some a sort of understanding... and the other side is that we are to go for certain steps to be taken to safeguard our interest. We will certainly take," he said at Assocham India Steel Summit - Enhancing Competitiveness & Overcoming Challenges.

Singh had earlier said that the 25 per cent tariff imposed by the US on steel import can 'indirectly' affect the domestic sector.

"The US decision to impose 25 per cent tariff on steel imports will have negligible direct impact (on India's export) as India's share of US Steel imports is very small as compared to other countries but there might be an indirect impact," he had said.